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Historically, liberal democracy was born as a means to curb the power of kings and tyrants through mechanisms that would ensure accountability and consent of the governed. A system of checks and balances—two legislative chambers, executive and independent courts—were instituted to ensure power did not become too concentrated.Today's highly diverse, mass consumer societies, however, have presented another set of challenges. Power is so diffused governance is becoming ineffective. The short‐term mentality of voters and the lobbying of special interests undermine the ability of democracies to focus on the long‐term and the common interest. Because there are more checks than balances, gridlock has supplanted consensus.In this section, we compare Chinese and Western systems on their ability to deliver good governance. The editors of the Economist magazine put the debate in historical context.

The competition policy pursued by the European Commission has a direct impact on the daily life of the citizens of the European Union. The reduction of telephone charges, wideraccess to air transport and the possibility of buying a car in the EU country in which prices are lowest are tangible results. Other, less visible, areas of Community competition policy also produce positive effects for the public. For example, merger control ensures a diversity of mass-market consumer goods and low prices for the final consumer. Likewise, by contributing to economic and social cohesion, the monitoring of state aid helps to promote viable and durable jobs throughout the Union. Whether they be consumers, savers, users of public services, employees or taxpayers, the Union's citizens enjoy the fruits of competition policy in the various aspects of their everyday life.

The EU Commissioner for Competition Policy discusses some of its international antitrust efforts in the context of the increasing globalization of markets. The importance of cooperation with US authorities, including the Dept of Justice & Federal Trade Commission, in matters regarding multijurisdictional mergers & the globalization of hardcore cartels is highlighted. The key role of EU-US cooperation in the management of antitrust efforts & law enforcement in an integrating world economy is discussed, emphasizing the need for a multilateral approach. The inclusion of competition policy in the development agenda for the World Trade Organization, outlined during the 2002 Ministerial at Doha, Qatar, is reviewed, & plans for future negotiations are noted. The ongoing development of a multilateral initiative regarding international cooperation in the enforcement of competition policy -- the International Competition Network -- is also described. K. Hyatt Stewart